Omaha, NE (PRWEB) January 6, 2011
The Rosholt, SD ethanol plant is scheduled for sealed bids to be in by 5 pm on February 1, 2011. “We are still on target with the auction process and timeline. The current interested parties receive monthly updates on the plant’s performance.” said Jeff Kistner a consultant to the Bankruptcy Trustee. All bids for North Country Ethanol must be received by Thomas Stalnaker, Trustee of Tri State Financial, LLC.
Rosholt continues to show some of the lowest cost corn in the US and this allows for a competitive advantage in the industry. In addition, the Rosholt Plant received initial approval to sell ethanol in British Columbia, Canada. Both of these items allow for flexibility in maximizing the crush margin for the plant.
North Country Ethanol has operated since November 2009 through a cooperative effort of the Creditors Group, Tenaska Biofuels (TBF), Flag Leaf Financial Management Inc. and Innovative Concepts of Ethanol (ICE). This cooperative effort allowed a certain level of plant maintenance which will aid in the future. Continued operations are planned by this collective group and will work with the successful bidder in transitioning at financial close for minimal interruption.
The Rosholt SD plant aka North Country Ethanol is located on 35 acres, a half a mile from the Coop Grain Elevator and access to the Canadian Pacific Railroad. Kistner, an industry consultant for the trustee, said “This plant was retrofitted by ICM, Inc in 2004. ICM is a leading technology firm to the industry.”
This is a good opportunity to own a bio refinery or expand gallons for an existing bio refinery. Currently the renewable industry has a higher cost to build new than the purchase price to buy. OJ Spooner, a member of the creditors group said, “We have worked to maintain and operate the plant so that a new owner could easily continue operations with a knowledgeable and dedicated staff with a plant that has a proven track record.” He went on to say that by following this business model, any buyer is receiving added value knowing that they are purchasing a facility that is already operating.
For more information on this auction, contact Jeff Kistner 402-490-3314 or http://www.flagleaffinancial.com
For more information contact:
Jeff Kistner, President
Flag Leaf Financial Management Inc.